Health Savings Accounts

Webinar: ID# 1000564

About This Course:

Many HSA owners are using their HSA as a perpetual contribution account covering all of their medical (and non-medical) expenses without any concern with the annual contribution limitations. After receiving an excess contribution IRS penalty, they now want the custodian/trustee to go back 2-3 years and "fix it".

There are so many mistakes being done by account holders and financial institutions creating hours of unnecessary corrections. It is time to get a handle on these tricky products and get some fail-safe policies and procedures in place to clean up the messes we have encountered and move forward in the right direction.

Whether you are now offering HSAs or are thinking about offering HSAs, this informative webinar will give you the information you need to make sure you are setting the accounts up correctly and performing the proper maintenance and reporting.

What You'll Learn:

What are the 5 mandatory requirements for HSA eligibility?

What are the NEW contribution limits for 2017/2018?

What responsibilities does the financial institution have to monitor qualified medical expense withdrawals?

What kind of account should the HSA money be invested in?

How do we handle excess contributions and re-deposit medical expense reimbursements?

What are the IRS reporting requirements for HSA contributions and distributions?

What are the 4 major “trouble spots” for HSA accounts and the recommendations to solve the problems?